 "Vedanta")
Mining giant Vedanta Resources Ltd. was able to secure much-needed funds by selling $1 billion of notes at one of the highest yields for a dollar bond in Asia this year.
The company priced the January 2024 bond on Wednesday at a yield of 13.875%, according to a person familiar with the matter, who asked not to be identified because they aren’t authorized to speak about it. Vedanta Resources plans to use the money to finance a buyback offer for $670 million of notes maturing in June 2021.
Strains have been increasing at the company, which is controlled by billionaire Anil Agarwal,
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